Cim Investment Mangement Inc. reduced its position in Prudential Financial, Inc. (NYSE:PRU) by 8.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,033 shares of the financial services provider’s stock after selling 633 shares during the period. Cim Investment Mangement Inc.’s holdings in Prudential Financial were worth $750,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Prudential Financial during the fourth quarter valued at $1,835,418,000. Legal & General Group Plc raised its stake in Prudential Financial by 1.7% in the first quarter. Legal & General Group Plc now owns 2,247,784 shares of the financial services provider’s stock valued at $239,794,000 after buying an additional 38,540 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Prudential Financial by 2.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,760,671 shares of the financial services provider’s stock worth $187,828,000 after buying an additional 39,435 shares during the last quarter. Swiss National Bank raised its stake in Prudential Financial by 25.2% in the first quarter. Swiss National Bank now owns 1,523,687 shares of the financial services provider’s stock worth $162,547,000 after buying an additional 306,300 shares during the last quarter. Finally, Boston Partners raised its stake in Prudential Financial by 3.5% in the first quarter. Boston Partners now owns 1,249,243 shares of the financial services provider’s stock worth $133,269,000 after buying an additional 41,889 shares during the last quarter. 63.35% of the stock is owned by hedge funds and other institutional investors.
Shares of Prudential Financial, Inc. (PRU) traded up 0.41% during trading on Friday, reaching $113.20. 956,086 shares of the company traded hands. The firm’s 50-day moving average is $109.33 and its 200-day moving average is $107.71. The stock has a market capitalization of $48.56 billion, a PE ratio of 11.49 and a beta of 1.49. Prudential Financial, Inc. has a 12-month low of $72.25 and a 12-month high of $114.55.
Prudential Financial (NYSE:PRU) last released its quarterly earnings data on Wednesday, May 3rd. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.64 by $0.15. The firm had revenue of $13.24 billion for the quarter, compared to analysts’ expectations of $12.75 billion. Prudential Financial had a net margin of 7.78% and a return on equity of 8.52%. During the same quarter last year, the business posted $2.18 earnings per share. On average, equities analysts predict that Prudential Financial, Inc. will post $10.67 earnings per share for the current fiscal year.
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Several brokerages have recently issued reports on PRU. Zacks Investment Research raised Prudential Financial from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a research report on Tuesday, April 18th. Credit Suisse Group reiterated a “hold” rating and issued a $121.00 target price on shares of Prudential Financial in a research note on Thursday, April 27th. ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. BidaskClub lowered shares of Prudential Financial from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $113.00 target price on shares of Prudential Financial in a report on Tuesday, June 27th. Ten analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $111.21.
In other Prudential Financial news, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $110.00, for a total value of $22,174,350.00. Following the completion of the transaction, the chairman now directly owns 456,121 shares in the company, valued at $50,173,310. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles F. Lowrey sold 222,857 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $108.04, for a total value of $24,077,470.28. Following the sale, the insider now owns 151,418 shares in the company, valued at approximately $16,359,200.72. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
About Prudential Financial
Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.
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